Lewis Asset Management LLC Buys New Position in GE Vernova Inc. $GEV

Key Points

• Lewis Asset Management LLC purchased a new stake in GE Vernova Inc. during the second quarter, acquiring 393 shares valued at around $208,000.
• Wall Street analysts have raised their price targets for GE Vernova, with estimates ranging from $675.00 to $706.00, while the stock currently holds an average rating of "Moderate Buy."
• GE Vernova's recent earnings report showed a significant beat on estimates, reporting $1.86 EPS and $9.11 billion in revenue, reflecting an 11.1% year-over-year growth.

Lewis Asset Management LLC bought a new stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 393 shares of the company's stock, valued at approximately $208,000.

Other hedge funds also recently modified their holdings of the company. EQ Wealth Advisors LLC purchased a new position in shares of GE Vernova during the first quarter valued at approximately $27,000. IMA Advisory Services Inc. purchased a new position in shares of GE Vernova during the first quarter valued at approximately $27,000. Mowery & Schoenfeld Wealth Management LLC lifted its holdings in GE Vernova by 115.2% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 99 shares of the company's stock worth $30,000 after acquiring an additional 53 shares during the period. 1248 Management LLC bought a new stake in GE Vernova during the first quarter worth $31,000. Finally, Saudi Central Bank bought a new stake in GE Vernova during the first quarter worth $33,000.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GEV. Morgan Stanley lifted their price target on GE Vernova from $511.00 to $675.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. BMO Capital Markets lifted their price target on GE Vernova from $590.00 to $690.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Robert W. Baird lifted their price target on GE Vernova from $568.00 to $706.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Mizuho lowered GE Vernova from an "outperform" rating to a "neutral" rating and set a $670.00 price target on the stock. in a report on Monday, July 28th. Finally, TD Cowen lifted their price target on GE Vernova from $390.00 to $685.00 and gave the stock a "buy" rating in a report on Friday, July 25th. Four analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $592.35.

GE Vernova Stock Up 3.1%

Shares of NYSE GEV opened at $643.67 on Tuesday. The firm has a market capitalization of $175.22 billion, a P/E ratio of 155.10, a P/E/G ratio of 4.55 and a beta of 1.88. The stock's 50-day simple moving average is $618.88 and its two-hundred day simple moving average is $482.23. GE Vernova Inc. has a twelve month low of $246.79 and a twelve month high of $677.29.

GE Vernova (NYSE:GEV - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The company reported $1.86 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.23. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $8.78 billion. GE Vernova had a return on equity of 13.23% and a net margin of 3.16%.The company's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company earned $4.65 EPS. GE Vernova has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that GE Vernova Inc. will post 6.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other GE Vernova news, CFO Kenneth Scott Parks sold 3,300 shares of the company's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $620.00, for a total value of $2,046,000.00. Following the transaction, the chief financial officer directly owned 7,590 shares in the company, valued at $4,705,800. This represents a 30.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.15% of the stock is owned by corporate insiders.

GE Vernova Company Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.

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